Mortgage Applicant Age Question

kirstle99

Hi

Just a quick one. Can you still apply for a 25 year mortgage at aged 40?

We want to buy in 5 years, hubby would be the main applicant at aged 40 (maybe aged 39 just before if we can) and I would be aged 35 then as the second applicant.

Thanks

kloana

kirstle99 wrote: »

Hi

Just a quick one. Can you still apply for a 25 year mortgage at aged 40?

We want to buy in 5 years, hubby would be the main applicant at aged 40 (maybe aged 39 just before if we can) and I would be aged 35 then as the second applicant.

Thanks

Yes.

My OH was 39 (very nearly 40) when he became a FTB recently. I am late 20s. Our 25 year mortgage takes us to within 2 months of his 65th birthday.

kirstle99

Thank you that's brill.

Our credit files are ruined from 5 years of AP markers (only settled last year) hence why we need to wait for them to come off before we buy (bloomin' BC)

Bella73

Hi I'm 40 and we have had to take a 24 year mortgage so it's before my 65th birthday.

kloana

kirstle99 wrote: »

Thank you that's brill.

Our credit files are ruined from 5 years of AP markers (only settled last year) hence why we need to wait for them to come off before we buy (bloomin' BC)

Some quote tools we were playing with were allowing us to push the age a bit (to around 30 years / age 70), or were suggesting an in-branch appointment to discuss the issue (presumably to discuss his retirement/pension provisions). But as he only has (so far) whatever state provisions will exist then, we avoided this option, thinking it'd be unlikely that we'd be approved any longer, and being happy with the 25 year term anyway. Also, we overpay, and are in reality looking at around a 20 year total term

kirstle99

Thanks, we definitely only want 25 years max, and were also planning on overpaying like you aswell, great to know, even 24 years would be brill xx